EVERTEC Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
EVTC$33.40-0.4%Stored close · as of Nov 9, 2026
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Schedule IF-
Schedule I
EVERTEC, Inc. Condensed Financial Statements
Parent Company Only
Condensed Balance Sheets
| December 31, | ||
|---|---|---|
| (In thousands) | 2023 | 2022 |
| Assets | ||
| Current assets: | ||
| Cash | $2,118 | $1,680 |
| Prepaid expenses and other assets | 5,908 | 16 |
| Total current assets | 8,026 | 1,696 |
| Investment in subsidiaries, at equity | 617,025 | 503,145 |
| Deferred tax asset, net | 8,640 | — |
| Total assets | $633,691 | $504,841 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accrued liabilities | $374 | $325 |
| Accounts payable | 39,024 | 29,553 |
| Income tax payable | — | 1,853 |
| Total current liabilities | 39,398 | 31,731 |
| Other long-term liabilities | — | 1,599 |
| Total liabilities | 39,398 | 33,330 |
| Stockholders’ equity: | ||
| Common stock | 654 | 648 |
| Additional paid-in capital | 36,527 | — |
| Accumulated earnings | 538,903 | 487,349 |
| Accumulated other comprehensive income (loss), net of tax | 18,209 | (16,486) |
| Total stockholders’ equity | 594,293 | 471,511 |
| Total liabilities and stockholders’ equity | $633,691 | $504,841 |
F - 50
Schedule I
Condensed Statements of Income and Comprehensive Income
| Years ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| Non-operating income (expenses) | |||
| Equity in earnings of subsidiaries | $71,600 | $72,549 | $157,787 |
| Interest income | 497 | 290 | 157 |
| Other expenses | (1,956) | 166,745 | (2,563) |
| Income before income taxes | 70,141 | 239,584 | 155,381 |
| Income tax benefit | (9,581) | 575 | (5,749) |
| Net income | 79,722 | 239,009 | 161,130 |
| Other comprehensive income (loss), net of tax | |||
| Foreign currency translation adjustments | 38,328 | 12,490 | (11,129) |
| Loss on cash flow hedges | (3,618) | 19,215 | 11,151 |
| Unrealized gain on change in fair value of debt securities available-for-sale | (15) | (68) | 109 |
| Total comprehensive income | $114,417 | $270,646 | $161,261 |
Condensed Statements of Cash Flows
| Years ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2023 | 2022 | 2021 |
| Cash flows from operating activities | $55,515 | $116,052 | $47,590 |
| Cash flows from financing activities | |||
| Dividends paid | (13,025) | (13,772) | (14,409) |
| Repurchase of common stock | (36,096) | (96,595) | (24,388) |
| Withholding taxes paid on share-based compensation | (5,956) | (5,685) | (8,793) |
| Net cash used in financing activities | (55,077) | (116,052) | (47,590) |
| Net change in cash | 438 | — | — |
| Cash at beginning of the period | 1,680 | 1,680 | 1,680 |
| Cash at end of the period | $2,118 | $1,680 | $1,680 |
F - 51
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